REDONDO BEACH, Calif., August 15, 2003 (PRIMEZONE) -- CorpHQ, Inc. (Pink Sheets:COHQ) today detailed its new strategic operating plan for its re-emergence as a fully-operating business incubator. The development stages of this plan, which was overwhelmingly approved at the October 13, 2000 Shareholders Meeting, were implemented over the past three years according to management.
CorpHQ, Inc. business model entails the direct acquisition of interests in private companies, as well as the creation of strategic partnerships or joint ventures with synergistic businesses. The CorpHQ group of companies address vertical market segments in the Consumer Products, Consumer Services and Consumer Technology industries.
CorpHQ's business strategy over the past few years has primarily involved the development, acquisition and operation of majority-owned subsidiaries focused on consumer products and commercial technologies, as well as the development of consulting and other business relationships with non-subsidiary companies that have demonstrated synergies with CorpHQ's core businesses and where CorpHQ believes can add substantial value. The company's strategy also envisions and promotes opportunities for strategic business relationships among and between its subsidiaries and business affiliates. CorpHQ expects to continue to develop and refine the group's product and service offerings, and to continue to pursue the development or acquisition of, or strategic investment in, additional companies.
The following summarizes the operations of CorpHQ's portfolio companies.
-- My Personal Salon. CorpHQ owns a minority interest in and is engaged by My Personal Salon as a management, marketing and business development consultant. MPS is working to become an all encompassing personal care and lifestyle company that has the ability, through its market-savvy product creation skills and well-established network of distributors and industry contacts, to distribute beauty and wellness products in several different channels including department stores, mass-merchandisers, salons and spas, and possibly stand-alone branded stores.
-- Safeguard Technology. CorpHQ owns a majority interest in Safeguard Technology and has explored with Safeguard's Board of Directors the possibility of acquiring all presently-outstanding Safeguard shares. Safeguard is a development stage company whose mission is to profitably commercialize advanced technology platforms for securing residences and commercial property. Safeguard is actively engaged in the development and commercialization of advanced security technologies that integrate interactive digital video surveillance and Internet viewing and archiving with traditional alarm monitoring services.
-- Circles of Life USA. CorpHQ owns a minority interest in and is engaged by Circles of Life USA as a financial consultant. COL is a marketing organization engaged in the sale and distribution of a proprietary line of wellness products. During its initial year of operations, COL generated over $2 million in revenue and earnings with fourth quarter month-to-month sales growth in excess of 50%. In its first 18 months of operation, the company grew its distributor base from an initial 25 to 2700 representatives.
-- Presto Food and Beverage, Inc. CorpHQ is a joint venture partner with Presto for licensing, marketing and sales. Presto owns the intellectual property for disposable thermo self-heating beverage containers for soup, instant coffee, espresso and hot chocolate; and self-cooling beverage containers for iced beverages such as tea and coffee.
CorpHQ has determined to list itself again on the OTC Bulletin Board and, to that end, is currently working with its auditors and other professionals to make the necessary filings for that purpose. The company's intention is to obtain the listing at the earliest practicable date, although there can be no assurance if or when an OTC Bulletin Board listing for CorpHQ will be forthcoming.
The Company directs all interested parties to its website at www.corphq.com for additional information.
Any statements contained in this communication which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties, many of which are not within the control of the company, which could cause actual results to differ materially from those set forth in or implied by such forward-looking statements.